Wednesday, September 02, 2009

Bombardier Transportation backlog increases in quarter

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Bombardier Inc. announced Wednesday that it ended the second quarter of fiscal 2010 on July 31 with a "strong backlog of $47.5 billion," though net income dropped to $202 million from $259 million in the corresponding period of the company's prior fiscal year.

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Bombardier Transportation revenue reached $2.5 billion for the quarter, an increase of $131 million over the same period in the last fiscal year, despite a negative currency impact of $306 million.

The Transportation Group order backlog was $27.9 billion on July 31, 2009, compared to $24.7 billion as of Jan. 31, 2009.

Bombardier Transportation reported new orders for the quarter worth $3 billion, compared to $2.1 billion in the year-earlier period. These include a $735 million agreement with the Toronto Transit Commission, the largest single order ever awarded for light rail vehicles worldwide.

Bombardier Aerospace's second-quarter revenue totaled $2.4 billion compared to $2.5 billion in the prior fiscal year. The Aerospace backlog was $19.6 billion on July 31, 2009, compared to $23.5 billion on Jan. 31, 2009.

On Sept. 1, Bombardier's board approved a $500-million two-year unsecured revolving credit facility with a syndicate of commercial banks and other institutions, which will be available for general working capital needs.